Saudi stocks are back to rise with the support of “banks” … and liquidity falls to 3.5 billion riyals


Saudi stocks returned to rise to close at 8138 points, winning 25 points by about 0.32 per cent, while the “MT30” index increased three points by 0.31 per cent to close at 1121 points. The market was able to consolidate at the support levels indicated and the continued maintenance of 8120 points, which keeps the chances of returning to profitability, as the loss of these levels will push the market into a wave of sharp declines.
Banks were able to achieve better performance than the index and are still able to lead the market to higher levels due to the low assessment of the sector compared to the market and the continued growth of its profits, as the consolidated profits of banks in Saudi Arabia (including unlisted) reached 50.4 billion riyals, a growth of 4.8 per cent according to SAMA data . Overall market performance
The general index opened at 8112 points, and headed toward the highest point in the session at 8149 points, gaining 0.45%. At the end of the session, it closed at 8,138 points, gaining 25 points, or 0.32 percent. Liquidity declined 7 percent by about 286 million riyals to reach 3.5 billion riyals, at a rate of 22 thousand riyals, while traded shares decreased 2 percent by about 2.6 million shares to reach 148 million shares, with a turnover rate of free shares 0.26 percent. As for deals, they fell 10 per cent by about 17,000 deals, to 164,000 deals.
Sectors performance
Five sectors retreated against the rise of the rest. The decline was led by “food production” by 0.68 percent, followed by “energy” by 0.36 percent, and “applications and technology services” by 0.21 percent. While the rise was led by “medicines” 1.76 percent, followed by “commercial and professional services” 1.16 percent, and thirdly, “investment and finance” 1 percent. The highest turnover was “banks” by about 26 percent at a value of 938 million riyals, followed by “basic materials” 23 percent with a value of 812 million riyals, and thirdly, “energy” 11 percent with a value of 379 million riyals.

Stock performance
The “clay” high shares topped by about 5.96 percent to close at 60.40 riyals, followed by “SABB Takaful” 4.6 percent to close at 20.40 riyals, and “paper industry” by 4.2 percent to close at 25.60 riyals. On the other hand, the decline was led by “Saudi Cables” by about 9.9 per cent to close at 16.96 riyals, followed by “Umm Al-Qura Cement” 5.9 per cent to close at 28.90 riyals, and “Sadafco” came 3.7 per cent to close at 140.20 riyals. The highest turnover was “Al-Rajhi” with a value of 331 million riyals, followed by “Aramco” with a value of 255 million riyals, and “Al-Inma” with a value of 243 million riyals.
Economic Reports Unit

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